Any success with cash for keys?

[Maranda Tucker]

Has anyone had success with cash for keys? How much did you have to offer?

[Brad Jacobson]

Yes.  Cash for keys is one of my favorite land-lording strategies.  

A eviction usually costs $2,000 or more so I begin by offering about half of that.  Last time I did cash for keys, I offered $800 and it worked.  

I recommend being pretty firm.  With the properties I manage, I'm usually a fairly chill landlord (my goal is kind but firm on rules) but with cash for keys, you have to really harp on the fact they can walk with this money or they will be greeted by an officer next week who will be much less kind.  

Good luck!